Rising Metal Prices Push India’s WPI Inflation To 2% In January: ICICI Securities
A worker cuts a metal pipe in Mumbai’s Lower Parel area. (Photograph: Dhiraj Singh/Bloomberg)

Rising Metal Prices Push India’s WPI Inflation To 2% In January: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Wholesale price index for January 2021 came in at 2% (our estimate 1.7%; consensus: 1.3%) from 1.2% in December 2020 and 3.5% in Jan-20.

With this print, average wholesale inflation in the first ten months of FY21 stands at 0.2%.

Out of the three components of WPI, ‘primary articles’ and ‘fuel and power’ recorded negative inflation in Jan-21.

However, manufacturing which accounts for approximately two-third of the index recorded sharp surge in inflation.

Within manufacturing, most of the increase was driven by basic metals

Click on the attachment to read the full report:

ICICI Securities WPI Monitor Feb21 .pdf

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